KUALA LUMPUR (Oct 26): Malaysian shares and the ringgit may take the cue from overnight crude oil and US share losses as investors eye Malaysian corporate financials.

Shares of Malaysian oil and gas support-services entities may be closely watched after crude oil prices fell below US$50 (about RM208) a barrel. The ringgit may also be in the spotlight as crude oil is a major component of the country's economy.

Malaysian companies have begun reporting their July-to-September quarterly financials in October although most will do so in November.
 
Yesterday, the FBM KLCI fell 0.33 point to close at 1,677.43 points. The ringgit strengthened to 4.1575 against the US dollar.

US shares fell overnight. The Dow Jones Industrial Average dropped 0.3%, S&P 500 fell 0.38% while Nasdaq Composite was 0.5% lower.

In crude oil markets, US oil fell 1.1% to US$49.96 a barrel while Brent oil was 1.3% lower at US$50.79.

Reuters reported that oil settled down on Tuesday, then US crude slid further below US$50 a barrel in post-settlement trade after an industry group reported that US oil inventories grew nearly three times as much as forecast.